INTERPHARM LABORATORIES REPORTS 1991 THIRD QUARTER
AND NINE MONTHS SALES AND EARNINGS
NESS-ZIONA, Israel, Nov. 14 /PRNewswire/ -- InterPharm Laboratories Limited (NASDAQ: IPLLF) today reported net sales of US $9.1 million for the third quarter ending Sept. 30, 1991, compared with $7.0 million for the same period last year, an increase of 31 percent. Net income increased by 8 percent to $1.6 million or 25 cents per share, compared with $1.4 million or 23 cents per share in 1990.
Commenting on these results, Dr. Yoram Karmon, president and chief executive officer of the company, remarked: "This performance was achieved primarily as a result of the increase in sales of FRONE(R), our native beta interferon, and increased production efficiency."
Net sales for nine months ending Sept. 30, 1991 rose 53 percent to $25.2 million, compared with $16.4 million during the same period in 1990.
Net income rose 149 percent to $3.4 million or 54 cents per share, compared with $1.4 million or 22 cents per share for the first nine months of 1990.
"We will continue vigorously to pursue our R&D goals," said Dr. Karmon, "This quarter our gross R&D expenditures rose by 50 percent to $1.7 million compared with $1.1 million for the same period last year."
InterPharm Laboratories Limited is a research-based developer, manufacturer and marketer of biological pharmaceuticals.
InterPharm Laboratories Ltd. is a member of The Ares-Serono Group, a worldwide developer and marketer of pharmaceutical and diagnostic products with executive headquarters in Geneva, Switzerland, and operational headquarters in Boston, Mass., U.S.A. The Group operates subsidiaries and manufacturing facilities in more than 20 countries.
Below is a summary of unaudited comparative results. (All amounts are in US dollars).
INTERPHARM LABORATORIES LTD.
Three Months Ended Nine Months Ended
9/30/91 9/30/90 9/30/91 9/30/90
Net sales $9,145,962 $6,970,304 $25,164,739 $16,414,529
Operating profit 1,685,054 1,421,804 3,478,872 1,599,487
net (125,766) (114,378) (106,230) (277,930)
Net income 1,559,288 1,448,426 3,372,642 1,352,557
Earnings per share 25 cents 23 cents 54 cents 22 cents
number of shares
outstanding 6,242,385 6,237,385 6,240,022 6,237,385
/CONTACT: Gina Cella of Ares-Serono Group, 617-982-9000, ext. 251/
(IPLLF) CO: InterPharm Laboratories, Ltd.; The Ares-Serono Group ST: Massachusetts IN: MTC SU: ERN KM-DD -- NE002 -- 4298 11/14/91 09:39 EST